BrightSpire Capital (BRSP) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

BrightSpire Capital

NYSE•Real Estate•REIT - Mortgage

$4.63-0.05(-0.01%)Pre-market

Market Cap

$529.65M

P/S

1.6x

P/B

0.6x

BrightSpire Capital, Inc. operates as a commercial real estate (CRE) credit real estate investment trust in the United States and Norway. It operates through Senior and Mezzanine Loans and Preferred Equity; Net Leased and Other Real Estate; and Corporate and Other segments. The company focuses on originating, acquiring, financing, and managing a diversified portfolio of CRE debt investments consisting of senior mortgage loans, mezzanine loans, preferred equity investments, net leased real estate and other real estate properties, and CRE debt securities. It also engages in money market activities; and invests in private equity funds. The company has elected to be taxed as a real estate investment trust. As a result, it would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Colony Credit Real Estate, Inc. and changed its name to BrightSpire Capital, Inc. in June 2021. BrightSpire Capital, Inc. was incorporated in 2017 and is based in New York, New York.

How this company scores

WeakMetricSide Score: 51/100

Grade capped at D — Interest coverage below 1× (0.4x) — earnings cannot cover interest. Strongest: Cash & Earnings Quality (21/25); weakest: Balance Sheet & Red Flags (2/25).

Profitability14/25

Growth14/25

Balance Sheet & Red Flags2/25

Cash & Earnings Quality21/25

Strengths

Long cash runwayCash-backed earningsConsistent free cash flowProfit converts from growth

Grade capped at D

Interest coverage below 1× (0.4x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 158.7x5y range 6.6x – 158.7x

Currently above its 6-quarter median.

P/S · 1.6x5y range 1.6x – 6.8x

Currently near its 20-quarter median.

P/B · 0.6x5y range 0.5x – 0.9x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $529.65M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $335.79M
Q. Revenue: $83.55M
TTM EBITDA: $128.26M
TTM Op. Income: $96.27M
Q. Op. Income: $15.30M
TTM Net Income: $-26.86M
Q. Net Income: $-18.33M
EPS: $-0.15
Shares Out.: $126.71M

$335.79M in TTM revenue grew 0.2% YoY, reaching $83.55M last quarter. TTM EBITDA of $128.26M and TTM operating income of $96.27M show growth is flowing through to the bottom line. However, net income is negative at $26.86M — growth is not yet reaching the bottom line. Over the past year, TTM revenue is up 0% — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 28.1%
Op. Margin: 18.3%
Net Margin: -21.9%

Op. margin of 18.3% is up 31.7% YoY — cost efficiency is improving. Net margin at -21.9% Over the past year, operating margin is up 236% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 1.6x
P/B Ratio: 0.6x

P/S of 1.6x and P/B of 0.6x. P/S is low relative to typical market levels.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $3.75B
Cash: $68.16M
Long-Term Debt: $2.75B
Book Value: $849.38M
D/E Ratio: 3.2
Debt/EBITDA: 116.9

With $3.75B in assets and $2.75B in long-term debt, D/E is 3.2and book value is $849.38M — elevated leverage, meaning significant financial risk in a downturn. Across the last 8 quarters, debt/equity has risen for 3 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $29.41M
TTM Free Cash Flow: $73.76M
FCF Margin: 22.0%
FCF / Net Income: -2.7

TTM FCF of $73.76M on $29.41M in operating cash flow. The FCF / Net Income ratio of -2.7x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.